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June 17, 2014
07:44 EDTAVAVAeroVironment downgraded to Hold from Buy at Benchmark Co.
Benchmark downgraded AeroVironment to Hold ahead of the Q1 report based on rich valuation and expectations FY15 guidance could be weaker than expected given lower US Department of Defense , cancellation of the State Department program and Switchblade visibility. Price target lowered to $30.
News For AVAV From The Last 14 Days
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September 30, 2014
18:07 EDTAVAVAmerican Science & Engineering lower after guiding to Q2 net loss
Shares of American Science & Engineering (ASEI), a manufacturer of X-ray inspection and other detection products for homeland security, are sharply lower after disclosing that the company will record a net loss in the second quarter. WHAT'S NEW: AS&E is projecting a net loss for Q2 while the consensus estimate for Q2 EPS is 21c. The company said it has reduced its workforce by approximately 10% and has implemented additional targeted cost reductions to further reduce its operating expenses in response to the continued global volatility impacting its markets. "While our opportunity pipeline remains robust, we have reduced our expenses to manage through the quarter to quarter variability that has affected us and others in our industry. As we move forward, we will continue to execute on our strategic growth initiatives to help us leverage and capture the increased global opportunity pipeline for our expanded portfolio of product and service offerings," said AS&E CEO Chuck Dougherty. PRICE ACTION: Shares of American Science & Engineering are lower by almost 8% to $51.15 in after-hours trading. OTHERS TO WATCH: Other stocks in the homeland security space include: FLIR Systems (FLIR), I.D. Systems (IDSY), CACI International (CACI) and AeroVironment (AVAV).
09:11 EDTAVAVAeroVironment awarded $27.2M in orders from U.S. Army
AeroVironment announced it received three firm fixed-price orders from the United States Army totaling $27.18M for RQ-11B Raven and RQ-20A Puma AE unmanned aircraft systems spare parts. The company received two orders on August 29 and one on September 18. Delivery is anticipated within 12 months. The latest orders increase the total value of orders for Raven and Puma AE UAS spare parts and Raven upgrades received since May 2014 to $77.6M.
September 26, 2014
06:47 EDTAVAVFAA drone decision could be milestone, NY Times says
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September 24, 2014
09:55 EDTAVAVAeroVironment reports $22M order from Marine Corps
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